China to ease auto purchase curbs to boost sales – commerce ministry

BEIJING, April 2 (Reuters) – China will relax or remove restrictions on car purchases in some regions to stabilize sales or new cars, while accelerating plans to boost the retirement of old cars, the commerce ministry said on Thursday.

Wang Bin, the deputy head of the ministry’s consumption promotion division, said the ministry will continue to help “realize the consumption potential” in the world’s largest auto market, during a weekly briefing held online.

China’s auto industry suffered a 79% drop in sales in February and expects a fall of around 10% in the first half of this year. (Reporting by Yawen Chen, Yilei Sun and Se Young Lee; Editing by Alex Richardson)

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